On Friday the S&P/ASX 200 index ended the week on a positive note. The benchmark index pushed 0.35% higher to 6,707 points.
Will the local share market be able to build on this on Monday? Here are five things to watch:
ASX 200 expected to rise.
It looks set to be a very good day of trade for the S&P/ASX 200 index following a positive end to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to jump 0.5% or 35 points at the open. A strong jobs report led to Wall Street's Dow Jones rising 1.2%, the S&P 500 pushing 0.9% higher, and the Nasdaq index climbing 1%.
Oil prices jump.
Beach Energy Ltd (ASX: BPT), Woodside Petroleum Limited (ASX: WPL), and the rest of Australia's energy producers could be on the rise today after oil prices jumped. According to Bloomberg, the WTI crude oil price rose 1.3% to US$59.20 a barrel and the Brent crude oil price stormed 1.6% higher to US$64.39 a barrel. Oil prices pushed higher after OPEC and its allies announced deep production cuts.
Gold price sinks.
It looks set to be a disappointing day of trade for gold miners such as Newcrest Mining Limited (ASX: NCM) and St Barbara Ltd (ASX: SBM) after the spot gold price sank lower. According to CNBC, the spot gold price fell 1.2% to US$1,465.1 an ounce after the strong jobs report.
Tech shares on watch.
Australia's leading tech shares such as Altium Limited (ASX: ALU) and Appen Ltd (ASX: APX) could be solid performers today after a strong finish to the week by their U.S. counterparts. The technology-focused Nasdaq index rose 1% on Friday.
Scentre rated as a buy.
The Scentre Group (ASX: SCG) share price will be on watch today after it was the subject of a positive note out of Goldman Sachs. According to the note, the broker has retained its buy rating and lifted the price target on the company's shares to $4.29. This price target implies potential upside of 11.1% excluding dividends.
